ShopBack rolls out new payment feature

ShopBack, a Singapore-based shopping and rewards platform, has rolled out ShopBack Pay, a cashless payment feature.

Photo credit: ShopBack

The new feature allows users to make payments via their preferred cashless payment method, such as Mastercard, Visa, or GrabPay on the ShopBack app. It also gives them additional cashback on top of rewards from their selected payment method.

The platform has already partnered with Grab to allow ShopBack Pay users can get a bonus cashback of S$2 (US$1.5) on their first ShopBack Pay transaction via GrabPay until May-end.

ShopBack’s 2 million users will have access to the ShopBack Pay feature, which has onboarded over 3,000 merchants since its pilot launch on January 17.

Customers can link their preferred payment method available on the ShopBack app, and in-store payments will be directly debited from the linked payment method in real time. They are not required to top up funds on ShopBack Pay.

With the QR scan and pay feature available on its app, ShopBack Pay will enable users to make payments at brick-and-mortar stores too.

Last November, ShopBack acquired buy now, pay later startup Hoolah to enter the fintech space. The deal came shortly after the firm raised US$40 million from a slew of investors, including Temasek, East Ventures, EDBI, among others.

See also: How Hoolah fits into Shopback 2.0

Currency converted from Singapore dollars to US dollars: US$1 = SG$1.3